Franchising

Conversion Franchise

Converting an existing independent restaurant to a franchise brand, typically requiring less capital than new construction but still significant remodeling.

Related Terms

Build-Out Costs

The expenses to construct and equip a new restaurant location, including construction, equipment, signage, and initial inventory. Typically $250K-$1M+ for QSR.

How to Open a KFC Franchise in 2026: Costs, Fees, Revenue, and the Full FDD Breakdown

A KFC franchise costs $1.85M to $3.77M with average revenue of $1.35M. Full 2025 FDD analysis covering fees, unit economics, 314 US closures, and what buyers need to know.

Finance & Economics

Freddy's Frozen Custard Changes PE Hands: What Serial Buyouts Tell Us About QSR Franchise Valuations in 2026

The $700 million sale of Freddy's Frozen Custard from Thompson Street Capital to Rhône Group is the latest in a string of PE-to-PE restaurant deals. Here's what these transactions reveal about how private equity values QSR brands in 2026.

Finance & Economics

The QSR Franchisee Distress Wave: How Operator-Level Bankruptcies Are Reshaping Franchise Economics in 2026

Franchisee bankruptcies are accelerating in 2026, with Sailormen Inc. filing Chapter 11 on 119 Popeyes locations and Fat Brands' collapse rippling through 2,200-plus restaurants. For operators, the real threat isn't franchisor instability alone. It's the structural economics trapping franchisees between rising costs and degrading support.

Finance & Economics

Sun Holdings: How America's No. 2 Franchisee Became a Restaurant Brand Buyer

Guillermo Perales built Sun Holdings into a 1,800-unit franchise empire. Now he's buying distressed restaurant brands outright, betting that franchise operational discipline can rescue chains that corporate ownership couldn't.

Finance & Economics

Fat Brands Gets $184M DIP Financing as Court Ousts Wiederhorn Family: What the Management Purge and Bid Timeline Mean for 2,200 Franchise Locations

A bankruptcy court approved $184 million in debtor-in-possession financing for Fat Brands while simultaneously pushing out CEO Andy Wiederhorn and his three sons. With qualified bids due April 24 and an auction set for April 28, more than 2,200 franchise locations across 18 brands now face a compressed ownership transition timeline.

Finance & Economics

Back to Glossary

Conversion Franchise

Related Terms

Build-Out Costs

Related Articles

How to Open a KFC Franchise in 2026: Costs, Fees, Revenue, and the Full FDD Breakdown

Freddy's Frozen Custard Changes PE Hands: What Serial Buyouts Tell Us About QSR Franchise Valuations in 2026

The QSR Franchisee Distress Wave: How Operator-Level Bankruptcies Are Reshaping Franchise Economics in 2026

Sun Holdings: How America's No. 2 Franchisee Became a Restaurant Brand Buyer

Fat Brands Gets $184M DIP Financing as Court Ousts Wiederhorn Family: What the Management Purge and Bid Timeline Mean for 2,200 Franchise Locations

Conversion Franchise

Related Terms

Build-Out Costs

Related Articles

How to Open a KFC Franchise in 2026: Costs, Fees, Revenue, and the Full FDD Breakdown

Freddy's Frozen Custard Changes PE Hands: What Serial Buyouts Tell Us About QSR Franchise Valuations in 2026

The QSR Franchisee Distress Wave: How Operator-Level Bankruptcies Are Reshaping Franchise Economics in 2026

Sun Holdings: How America's No. 2 Franchisee Became a Restaurant Brand Buyer

Fat Brands Gets $184M DIP Financing as Court Ousts Wiederhorn Family: What the Management Purge and Bid Timeline Mean for 2,200 Franchise Locations

Related Articles

How to Open a KFC Franchise in 2026: Costs, Fees, Revenue, and the Full FDD Breakdown
A KFC franchise costs $1.85M to $3.77M with average revenue of $1.35M. Full 2025 FDD analysis covering fees, unit economics, 314 US closures, and what buyers need to know.
Finance & Economics

Freddy's Frozen Custard Changes PE Hands: What Serial Buyouts Tell Us About QSR Franchise Valuations in 2026
The $700 million sale of Freddy's Frozen Custard from Thompson Street Capital to Rhône Group is the latest in a string of PE-to-PE restaurant deals. Here's what these transactions reveal about how private equity values QSR brands in 2026.
Finance & Economics

The QSR Franchisee Distress Wave: How Operator-Level Bankruptcies Are Reshaping Franchise Economics in 2026
Franchisee bankruptcies are accelerating in 2026, with Sailormen Inc. filing Chapter 11 on 119 Popeyes locations and Fat Brands' collapse rippling through 2,200-plus restaurants. For operators, the real threat isn't franchisor instability alone. It's the structural economics trapping franchisees between rising costs and degrading support.
Finance & Economics

Sun Holdings: How America's No. 2 Franchisee Became a Restaurant Brand Buyer
Guillermo Perales built Sun Holdings into a 1,800-unit franchise empire. Now he's buying distressed restaurant brands outright, betting that franchise operational discipline can rescue chains that corporate ownership couldn't.
Finance & Economics

Fat Brands Gets $184M DIP Financing as Court Ousts Wiederhorn Family: What the Management Purge and Bid Timeline Mean for 2,200 Franchise Locations
A bankruptcy court approved $184 million in debtor-in-possession financing for Fat Brands while simultaneously pushing out CEO Andy Wiederhorn and his three sons. With qualified bids due April 24 and an auction set for April 28, more than 2,200 franchise locations across 18 brands now face a compressed ownership transition timeline.
Finance & Economics